Latino Economic Development Center

“Members of LEDC can receive technical assistance during the process of starting a new business or during the expansion of one already existing through advisement in the following areas: leasing contracts negotiation, business purchase or rent negotiation, business registration to the Secretary of State, accounting systems establishment, assistance regarding state permits and licenses, assistance during diagram elaboration, internet investigation of providers and distributors, searching for potential providers, and assistance with loan packages.”

“There is only one class of voting rights. All members have one vote. The members elect the members of the governing body.”

“The Finance Committee reviews the Form 990 and presents it to the entire Board of Directors, at which time a vote is taken to approve the Form 990.”

“Board members are required to sign and document annually their understanding and compliance with the written conflict of interest policy. At board meetings, potential for conflict of interest issues are discussed whenever applicable, if necessary.”

“The 990 is available for review on GuideStar.org additionally, governing documents, conflict on interest polices, and finacial statements are available at the Organization's offices upon request.”

“Ag Development: LEDC continued to promote agricultural farm business development among immigrant vegetable growers and livestock small producers, providing services to individual Latino farmers, farmers in cooperatives, and prospective farmers. Over 1,500 hours of technical assistance were provided to 26 farmers and 5 stockmen. LEDC also worked to support a multi-cultural agricultural marketing cooperative which included (7) Latino and (1) non-Latino farmers working together to pool resources and land accounts they could not achieve on their own. LEDC was a key player in creating a link between Latino blueberry growers in Michigan with a Latino-owned farmers' cooperative in Minnesota. This led to $85,000 of blueberry sales for Michigan farmers in Minnesota markets. LEDC played a key sponsorship and advisory role in the Emerging Farmers Conference, the nation's premiere farmer's conference geared towards BIPOC and Immigrant farmers. More than 200 farmers attended the Conference over two days. LEDC processed loans for eight farmers and continued to create close relationships with Minnesota's Rural Finance Authority and Farm Service Agency.”

“Consulting - Business: Program service expenses 27,486. Management and general expenses 16,708. Fundraising expenses 0. Total expenses 44,194. Consulting - Training: Program service expenses 32,664. Management and general expenses 19,856. Fundraising expenses 0. Total expenses 52,520. Consulting - General: Program service expenses 160,846. Management and general expenses 78,446. Fundraising expenses 1,040. Total expenses 240,332. Computer Support Fees: Program service expenses 7,847. Management and general expenses 15,314. Fundraising expenses 0. Total expenses 23,161. Payroll Processing Fees : Program service expenses 2,172. Management and general expenses 4,239. Fundraising expenses 0. Total expenses 6,411. Professional Fees - General: Program service expenses 848. Management and general expenses 1,654. Fundraising expenses 0. Total expenses 2,502. Technical Assistance Fees: Program service expenses 0. Management and general expenses 0. Fundraising expenses 18,284. Total expenses 18,284.”

“The Organization has a Finance Committee that reviews, approves and presents that audited financial statements to the entire Board of Directors for approval. There has been no changes in this process from the prior year.”